Amendments in Para 4.42 of the Handbook of Procedures 2015-2020 - DGFT - 59/2015-2020

MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) (DIRECTORATE GENERAL OF FOREIGN TRADE) PUBLIC NOTICE NO. 59/2015-2020 New Delhi, the 28th February, 2023 Subject: Amendments in Para 4.42 of the Handbook of Procedures 2015-2020. F. No. 01/94/180/012/AM23/PC-4 . In exercise of powers conferred under Paragraph 1.03 and 2.04 of the Foreign Trade Policy 2015-2020, as amended from time to time, the Director General of Foreign Trade hereby makes the following amendments in the provisions of Para 4.42 of the Handbook of Procedures 2015-2020 : (i) Under Para 4.42 of HBP 2015-2020 , a new sub-para (j) is added, as mentioned below: 4.42 Export Obligation (EO) Period and its Extension: (j) For implementation of all PRC decisions involving levy of Composition Fee while allowing extension in EOP and/or regularisation of exports already made, the applicable Composition Fee shall be as prescribed hereunder: CIF VALUE OF ADVANCE AUTHORIZATION (AA) LICENSES ISSUED COMPOSITION FEE TO BE LEVIED (IN Rs.) Up to Rs.2 Crores 25,000 More than Rs.2 Crores to Rs.10 Crores 50,000 Above Rs.10 Crores 1,00,000 No refund of earlier paid Composition Fee shall be admissible. Effect of this Public Notice: Para 4.42 of the Handbook of Procedures 2015-2020 has been amended to integrate a uniform and transparent system for implementation of all PRC decisions including previous decisions involving process of levying Composition Fee in case of extension of Export Obligation Period (EOP) and/or regularisation of exports already made under Advance Authorization Scheme, for ease of doing business and reduction of transaction cost. SANTOSH KUMAR SARANGI, Director General of Foreign Trade Ex-officio Addl. Secy.